May 01, 2007

CHina to overtake Germany as world's no.1 trader

GUANGZHOU, China: Claiming a projected US$2.1 trillion (€1.54tr; £1.05tr) in foreign trade in 2007, the People's Paradise will this year replace Germany as the globe's second largest trading nation, according to Li Yushi, vp of the Research Institute of International Trade and Economic Cooperation.

If this performance is sustained, says the researcher, China will in 2010 supplant the USA as world numero uno by trading volume. And - some believe - militarily.

Yushi told a seminar on foreign trade prospects: "China maintained a growth rate of more than 20% foreign trade in the first quarter and is likely to maintain the momentum throughout the year.

"Based on these predictions," he said, "we can tell that China will overtake the United States to be the world's largest trader in 2010."

Which in itself is a huge piece of news....but when you combine it with the fact that according to Mckinsey, "85% of Chinese people stop watching TV during the commercials" - All those people, all that money, how do you reach them?